Can a guarantor demand copies of loan documents

Nishant Jojhra (Querist) 06 January 2017 This query is : Resolved
AFTER A DISPUTE BETWEEN THE BORROWER AND THE GUARANTOR, THE GUARANTOR IS NOW DEMANDING COPIES OF THE LOAN DOCUMENTS ALONG WITH THE VALUATION REPORT OBTAINED BY THE BANK FOR THE VALUATION OF MORTGAGED PROPERTY.

NOW THE QUESTION IS, IS THERE ANY BAR FOR NOT PARTING WITH THE LOAN DOCUMENTS ALONG WITH THE EVALUATION REPORT OR THE BANK CAN PART WITH THE COPIES OF THE LOAN DOCUMENTS?

PLEASE GUIDE

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Guest (Expert) 06 January 2017
Unless and untll A New guarantor fulfills the Place of New Guarantor to the Full satisfaction of the Bank Existing Guarantor can not Withdraw him self.

Guest (Expert) 06 January 2017
The guarantor can not demand any Legal Documents just like that which will be Denied.He has to get Legal assistance to get it.Consult A Local Good Advocate.

Sudhir Kumar, Advocate (Expert) 06 January 2017
Guarantor has all the right to demand copies or he is at liberty not to be guarantor. He is liable to pay the loan if the borrower does not pay so he need to be aware of the transaction.

R.K Nanda (Expert) 06 January 2017
yes, guarantor can demand copies of loan documents.

Rajendra K Goyal (Expert) 06 January 2017
Guarantor has right to get attested copies of loan documents from lender / Bank.

Agree with the expert Sudhir Kumar.

Kumar Doab (Expert) 06 January 2017
Agreed that guarantor has the right to get authenticated copies of loan documents from lender / Bank.

Guest (Expert) 06 January 2017
No doubt that Sec 185(1)NCC,Sec 36 (1)NCC and Sec 83 NCC provides all the Rights for the Guarantor to obtain copy of Documents.But in Practical experience the Banker would Simply drag with out implementing it with their own reasons and they would take their own time where as fixed time as per the mentioned sections are Only 14 days to Implement.That is why the author is Advised to Take the help of Local Good advocate even while settling It.

Guest (Expert) 06 January 2017
I just wanted to give a Practical Advise to the Author by Consulting A Local Good Advocate.

Guest (Expert) 06 January 2017
Practicality is far from .......?.I just leave it to your assumptioms

Nishant Jojhra (Querist) 06 January 2017
But Mr. Narsimha the NCC is not applicable in India isnt it?

Ms.Usha Kapoor (Expert) 07 January 2017
Agree with experts.Guarantor has a right to demand copies of loan documents.

Guest (Expert) 07 January 2017
Dear Mr,Nishant Jojhra the BCI had already informed the Supreme Court in 2015 that it would not object Foreign Lawyers to Practice in India with Reciprocal Action by Foreign Governments.And Obviously .........(Hope you Understand)

Guest (Expert) 07 January 2017
Dear Mr.Nishant Jojhra as an Advocate your self could send the request to the bank for all the copy of documents in your letter head Counter signed by your client and it would Fetch you A Fast Result Please.

Guest (Expert) 07 January 2017
Dear Nishant Jojhra

Bank cannot take a guarantor for a ride merely because he has signed the agreement as a guarantor. He has every right to have a copy of the documents pertaining to loan of the debtor, if he has guaranteed repayment of loan.